Weiss Ratings Reiterates Hold (C) Rating for 3M (NYSE:MMM)

Weiss Ratings restated their hold (c) rating on shares of 3M (NYSE:MMM) in a research note published on Saturday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their price objective on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. Finally, Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.13.

3M Stock Performance

3M stock traded up $1.84 during midday trading on Friday, reaching $141.02. 5,717,193 shares of the company’s stock were exchanged, compared to its average volume of 2,528,391. The stock’s 50-day simple moving average is $131.24 and its 200 day simple moving average is $127.74. The firm has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 52 week low of $75.40 and a 52 week high of $141.66.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s revenue was down 24.3% on a year-over-year basis. During the same period last year, the firm posted $2.68 earnings per share. On average, analysts expect that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. 3M’s dividend payout ratio is currently 35.35%.

Hedge Funds Weigh In On 3M

A number of institutional investors have recently added to or reduced their stakes in MMM. Apeiron RIA LLC increased its holdings in 3M by 9.9% in the 4th quarter. Apeiron RIA LLC now owns 1,717 shares of the conglomerate’s stock worth $222,000 after purchasing an additional 154 shares in the last quarter. Secure Asset Management LLC bought a new stake in shares of 3M during the fourth quarter worth about $212,000. True North Advisors LLC increased its stake in shares of 3M by 17.6% in the fourth quarter. True North Advisors LLC now owns 2,457 shares of the conglomerate’s stock valued at $317,000 after buying an additional 367 shares during the period. Daymark Wealth Partners LLC raised its holdings in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after buying an additional 19,552 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new stake in 3M during the 4th quarter worth approximately $215,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.